return to news
  1. HDB Financial IPO: HDFC Bank arm greenlights fresh issue of ₹2,500 crore and OFS

Market News

HDB Financial IPO: HDFC Bank arm greenlights fresh issue of ₹2,500 crore and OFS

WhatsApp Image 2024-06-20 at 9.58.49 AM.jpeg

2 min read | Updated on September 23, 2024, 09:43 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

HDB Financial IPO will be a fresh issuance of equity shares valued at ₹2,500 crore and an offer-for-sale (OFS) component by existing shareholders.

HDB-Financial_IPO-date.webp

HDB Financial Services Board approves IPO.

HDB Financial IPO: The Board of HDB Financial Services, a subsidiary of HDFC Bank, has given the green light to the lender to launch an initial public offering (IPO).

HDB Financial IPO will be a fresh issuance of equity shares valued at ₹2,500 crore and an offer-for-sale (OFS) component by existing shareholders.

In a statement on Friday, September 20, the company said that it has approved an initial share sale of equity shares of face value of ₹10 each, "comprising of a fresh issue of equity shares aggregating up to ₹2,500 crore and an offer for sale of equity shares by existing and eligible shareholders of the Company who may offer to tender their equity shares which is subject to approval of the shareholders of the company, market conditions, receipt of applicable approvals, regulatory clearances and other considerations".

HDFC Bank currently holds a 94.6% stake in HDB Financial and is in the process of shortlisting bankers for the public offer. Morgan Stanley, Nomura, Bank of America, Axis Capital, IIFL, and ICICI Securities have been shortlisted, Moneycontrol had reported last month.

The share sale is being conducted to comply with the Reserve Bank of India's (RBI's) regulations, which mandate upper-layer non-banking finance companies to be listed on stock exchanges by September 2025.

HDB Financial Services IPO: About the company

HDB Financial Services is a leading non-banking financial company (NBFC) that provides personal loans, business loans, and vehicle loans, among other financial products.

Established in 2007, the company's line of business includes lending and BPO services.

To know more about IPOs listing, schedule and upcoming IPOs, click here.
Uplearn

About The Author

WhatsApp Image 2024-06-20 at 9.58.49 AM.jpeg
Kamal Joshi is a business journalist who covers industries, markets and IPOs. He is passionate about breaking news and enjoys playing tennis, where he loves flexing his backhand.

Next Story